Updated: Chicago Public Schools has a new $10 billion budget. How have its finances become such a mess?

By Bryce Hill

07/31/2026

The CPS budget proposal relies on hundreds of millions in fund sweeps to “balance.” Despite layoffs, CPS payrolls grew compared with last year and remain 8,250 higher than 2020 levels despite fewer students.

TAGS: CPS: Chicago Public Schools

What you need to know about who’s running for Chicago mayor

By Joe Tabor, Perry Zhao

02/18/2023

Nine candidates are asking to be Chicago’s next mayor. The election is outside the normal election cycle, meaning voter turnout is low despite the mayor’s impact on crime, education, the economy and Chicagoans’ taxes. Here’s what to know about the nine candidates.

TAGS: Chicago

Chicago’s 2020 budget proposal was never truly balanced

By Adam Schuster, Bill Reveille

11/26/2019

Faced with the impossible task of balancing Chicago’s budget without pension reform, Mayor Lori Lightfoot is forced to partially rely on phantom cuts and revenues.

TAGS: bonds, budget, CAFR: Comprehensive Annual Financial Report, Chicago, Chicago City Council, Chicago City Hall, constitutional amendment, CTA: Chicago Transit Authority, CTU: Chicago Teachers Union, deficit, emergency fee, homelessness, housing market, ILGA: Illinois General Assembly, interest rates, library, Lori Lightfoot, Lyft, property taxes, Rahm Emanuel, real estate, real estate transfer tax, tax hikes, tax increase, TIF: Tax Increment Financing, Uber

Nearly a third of property tax revenue in Chicago is diverted into 143 TIF districts

By Chris Lentino

07/26/2018

Nearly a third of property tax revenue in Chicago is diverted into 143 TIF districts controlled by the mayor, nearly half of which are located in affluent neighborhoods.

TAGS: Chicago, Chicago City Council, Cook County, John F. Curran, property taxes, Rahm Emanuel, TIF: Tax Increment Financing, William Davis

Chicago City Council approves $5.5 million TIF subsidy for private health provider

By Vincent Caruso

01/19/2018

Under the guise of rehabilitating underserved communities, Chicago City Council approved another tax transfer to a private company.

TAGS: Chicago, CPS: Chicago Public Schools, property taxes, TIF: Tax Increment Financing

Christmas wish list: 12 gifts for Illinois taxpayers in 2018

By Vincent Caruso

12/22/2017

After a punishing 2017, Illinoisans are in dire need of reform from Springfield.

TAGS: balanced budget requirement, gerrymandering, higher education, income tax, Mike Madigan, pensions, property taxes, term limits, TIF: Tax Increment Financing, unions

Wheeling to use $1 million in TIF funds to build bridge to nowhere

By Amy Korte

10/05/2017

Wheeling village trustees have voted for a plan to use tax increment financing to build a bridge to a vacant piece of land.

TAGS: TIF: Tax Increment Financing, Wheeling

PolitiFact fumbles fact-check: Education funding proposal is a CPS bailout

By Ted Dabrowski, John Klingner

08/02/2017

Analysis from PolitiFact Illinois and the Better Government Association misreads or ignores Chicago Public Schools bailout provisions within Senate Bill 1.

TAGS: BGA: Better Government Association, CPS: Chicago Public Schools, PolitiFact, Senate Bill 1

Chicago Public Schools budget shortfall: a manufactured crisis

By Chris Lentino

04/26/2017

Chicago Public Schools is faced with the possibility of closing school early while Chicago sits on massive property wealth.

TAGS: Chicago, CPS: Chicago Public Schools, CTPF: Chicago Teachers Pension Fund, education, Forrest Claypool, Rahm Emanuel, TIF: Tax Increment Financing

TIFF

Updated: Chicago Public Schools has a new $10 billion budget. How have its finances become such a mess?

What you need to know about who’s running for Chicago mayor

Chicago’s 2020 budget proposal was never truly balanced

Nearly a third of property tax revenue in Chicago is diverted into 143 TIF districts

Chicago City Council approves $5.5 million TIF subsidy for private health provider

Christmas wish list: 12 gifts for Illinois taxpayers in 2018

Wheeling to use $1 million in TIF funds to build bridge to nowhere

Illinois Policy Institute CEO John Tillman released the following statement on a recent editorial cartoon

PolitiFact fumbles fact-check: Education funding proposal is a CPS bailout

Chicago Public Schools budget shortfall: a manufactured crisis

Solutions for vacant lots would reduce crime and poverty in Chicago

Report Archive

Diana Graham

Process for unionizing non-state workers raises red flags

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students